4 Tips To Get The Best Insurance

Getting a home insurance? Make sure it is worth every penny. Atty. Tricia Villar shares some tips on how to score the best one.

1. Get total coverage for your home.

"Make sure your insurance policy covers the value of your home including its contents. Expect to declare the value of your things and having the insurance company assessor value your home. Cash and jewelry in the house aren't insurable."

2. Be aware of the risks.

"If you have a condo unit, insure it against fire—a greater risk to properties right next to each other."

3. Know the collection process.

"Even if you suffer a loss, you might not get anything from your insurance company if you fail to comply with their requirements. Violating any of these (leasing your property, for example, despite a written prohibition) will void your policy and keep you from collecting anything."

4. Pick a reputable insurance company.

"You wouldn't want to be homeless after a fire and still have to wait for months before you can claim insurance. Check with people who have suffered a loss if they were able to obtain right away from the same company."